GM to make move on Daewoo, insiders confirm

SEOUL — General Motors Corp., with alliance partner Fiat SpA, intends to present a proposal to Korean creditor banks for the purchase of some or all of the assets of insolvent Daewoo Motor Co. Ltd. within the next two weeks, Ward's Automotive International has learned. The meeting is expected to take place May 18.
GM's board of directors in Detroit approved the plan presented by Alan Perriton, executive in charge of acquisitions and mergers for Asia/Pacific, on May 2, insiders say.
GM's ...

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